Inflation in the eurozone continued to fall in January, dropping to 1.4 percent from 1.6 percent in December, according to a preliminary estimate by Eurostat (GEORGES GOBET)

Brussels (AFP) – Inflation in the eurozone continued to fall in January, dropping to 1.4 percent from 1.6 percent in December, according to a preliminary estimate by Eurostat.  

The ongoing fall reported by the official agency came within the range of analyst forecasts compiled by the Factset financial services firm.

The drop moves the rate further away from the European Central Bank’s target of 2.0 percent, which it would consider a sign of healthy growth in the bloc.

Worries over growth and inflation make it less likely that the ECB will be able to raise interest rates this year. 

Inflation stood at 1.9 percent in November but has been falling in particular because of lower energy prices.

The underlying inflation rate for January — excluding volatile products like energy, food, alcohol and tobacco — rose slightly in Januray to 1.1 percent from 1.0.

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